EPC (Engineering, Procurement, and Construction) Market Outlook

The global EPC (Engineering, Procurement, and Construction) market size was valued at approximately USD 837.78 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 3.20% during the forecast period from 2025 to 2034. By 2034, the market is projected to reach a valuation of around USD 1,112.4 billion. The market’s expansion is driven by the rising demand for infrastructure development across various sectors such as chemicals, power, oil and gas, and manufacturing, combined with the growing trend of large-scale projects globally.

EPC services encompass a broad range of activities, including engineering design, procurement of materials and equipment, and construction management, all of which are integral to major infrastructure projects. The growth in global infrastructure development, particularly in emerging markets, the transition to renewable energy, and advancements in industrial projects are key drivers of this market.

EPC (Engineering, Procurement, and Construction) Market  Trends

Several trends are shaping the global EPC market:

• Shift Towards Renewable Energy Projects
  As the global focus shifts towards sustainability, there is a significant increase in the number of renewable energy projects such as wind, solar, and hydropower. EPC contractors are increasingly involved in the development of these green energy projects, particularly with the global emphasis on reducing carbon emissions and advancing clean energy solutions.
• Rising Demand for Smart Infrastructure
  The development of smart infrastructure, particularly in urban environments, is gaining traction. This includes smart cities, intelligent transportation systems, and energy-efficient buildings. As digital technology integrates with construction, the demand for advanced EPC services that include cutting-edge technology and innovation in project delivery is growing.
• Automation and Digitalization in EPC
  The use of automation and digital tools, such as Building Information Modeling (BIM), drone surveillance, and AI-driven project management software, is revolutionizing the EPC industry. These technologies improve efficiency, reduce costs, enhance safety, and streamline communication on large-scale projects.
• Increased Investment in Infrastructure Development
  Governments worldwide are significantly investing in infrastructure projects, particularly in the transportation, energy, and manufacturing sectors. With growing urbanization and industrialization, there is an increasing need for complex infrastructure solutions, thus expanding the market for EPC services.
• Focus on Sustainability and Environmental Impact
  Increasingly, clients are seeking EPC firms that adhere to sustainability standards and reduce the environmental impact of their projects. This trend is leading to the adoption of green construction materials and eco-friendly building methods, along with compliance with environmental regulations.

Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/epc-engineering-procurement-and-construction-market/requestsample

EPC (Engineering, Procurement, and Construction) Market Growth

The global EPC (Engineering, Procurement, and Construction) Market is projected to grow at a steady CAGR of 3.20% from 2025 to 2034. The increasing demand for infrastructure development, particularly in emerging economies, along with the shift towards renewable energy and the need for modernizing aging infrastructure in developed regions, will contribute significantly to the market’s growth. As countries prioritize industrialization and urbanization, demand for EPC services in sectors such as chemicals, power, and oil and gas will continue to rise.

Additionally, the ongoing digital transformation and adoption of smart technologies in the construction process will drive further demand for EPC services, enabling faster and more cost-efficient project delivery.

EPC (Engineering, Procurement, and Construction) Market Segmentation

The global EPC market can be segmented by type, application, and region. This segmentation helps to identify key drivers of demand and provides a clearer view of the market’s growth opportunities.

1. By Type
   • Engineering: Engineering is the foundation of any EPC project. Engineering services include design, technical specifications, and project planning. This segment is growing as industries increasingly rely on advanced engineering solutions, such as modular construction, sustainable design, and cutting-edge infrastructure planning.
   • Procurement: The procurement segment involves sourcing materials, equipment, and services needed for construction projects. With the complexity of global supply chains, procurement in the EPC market is evolving to ensure timely availability of resources, contributing to cost and schedule optimization.
   • Construction: The construction segment is the most visible part of an EPC project. As demand for large infrastructure projects grows, particularly in developing countries, the construction aspect of EPC services is set to see significant growth. Construction services include everything from site preparation and foundation work to the assembly and installation of the final product.
2. By Application
   • Chemicals: The chemical sector requires complex facilities for the production of chemicals, petrochemicals, and fertilizers. EPC contractors provide engineering, procurement, and construction services for the construction of these plants. The ongoing industrialization in emerging markets is driving the demand for EPC services in this sector.
   • Power: The power sector includes energy generation, distribution, and transmission projects. With the global push towards renewable energy, EPC services are increasingly in demand for the construction of wind farms, solar plants, and hydropower projects, as well as for the modernization of existing power infrastructure.
   • Oil and Gas: The oil and gas sector has traditionally been a significant source of demand for EPC services, particularly for the construction of refineries, pipelines, and offshore platforms. The expansion of energy markets in regions such as the Middle East, North America, and Latin America will continue to drive EPC demand in this sector.
   • Manufacturing: Manufacturing facilities often require large-scale infrastructure development, including plant construction, warehouse facilities, and automated systems. EPC services for manufacturing plants are vital in sectors such as automotive, electronics, and heavy machinery.
   • IT and Telecom: With the increasing need for data centers, telecommunications infrastructure, and 5G networks, the demand for EPC services in the IT and telecom sector is growing. Construction of data centers and network infrastructure is expected to expand in response to the digital transformation of businesses worldwide.
   • Roads, Railways, and Bridges: EPC services are crucial in the construction of transportation infrastructure, including roads, railways, and bridges. As urbanization increases, there is a growing need for the development of transportation systems, particularly in emerging economies.
   • Airports and Ports: With the global rise in air and sea travel, the need for airport and port expansion is significant. EPC contractors are involved in building and upgrading terminals, runways, and cargo facilities in this sector.
   • Building Construction: Residential and commercial building construction continues to drive demand for EPC services. With rapid urbanization and infrastructure development, building construction remains a significant segment of the EPC market.
   • Others: This category includes other industries such as healthcare, education, and agriculture, where large infrastructure projects require EPC services.
3. By Region
   • North America: North America is a major market for EPC services, particularly in the oil and gas, power, and manufacturing sectors. The U.S. and Canada are significant consumers of EPC services for energy production, infrastructure development, and industrial plants.
     • United States of America: The U.S. is the largest market for EPC services, driven by investments in energy infrastructure, renewable energy projects, and large-scale manufacturing.
     • Canada: Canada’s EPC market is expanding, particularly in the oil and gas sector and in large-scale infrastructure projects.
   • Europe: Europe is another significant region for EPC services, particularly in sectors such as chemicals, power, and transportation. The ongoing shift to renewable energy and the need to modernize existing infrastructure are driving demand for EPC services in Europe.
     • United Kingdom, Germany, France, Italy, Spain: These countries are expected to continue leading the European EPC market, particularly in power generation and transportation infrastructure projects.
   • Asia Pacific: The Asia Pacific region is expected to witness the highest growth in the EPC market, driven by rapid industrialization, urbanization, and the demand for infrastructure development in countries like China, India, and Japan.
     • China, Japan, India: These countries are major contributors to the growth of the EPC market in the region, particularly in the construction of power plants, transportation infrastructure, and manufacturing facilities.
   • Latin America: Latin America is witnessing steady growth in the EPC market, particularly in the oil and gas, energy, and infrastructure sectors. Brazil, Argentina, and Mexico are key markets in the region.
   • Middle East and Africa: The Middle East and Africa are emerging as key markets for EPC services, driven by ongoing investments in oil and gas projects, infrastructure development, and renewable energy projects.
     • Saudi Arabia, United Arab Emirates: These countries are leading the demand for EPC services in the region due to major energy and infrastructure development projects.

Market Key Players

Key players in the global EPC market include:

• Mitsubishi Heavy Industries, Ltd.
• McDermott International Ltd.
• Fluor Corporation
• Bechtel Corporation
• Saipem S.p.A.
• DEPCOM Power, Inc.
• Petrofac Limited
• Blue Ridge Power
• Blattner Energy Inc.
• John Wood Group PLC
• Quanta Services, Inc.
• The Shaw Group Inc.
• Sentry Electrical Group, Inc.
• Larsen & Toubro Limited
• Sinopec Engineering (Group) Co., Ltd.
• Others

These companies are focusing on enhancing their project delivery capabilities, expanding into emerging markets, and adopting new technologies to remain competitive in the growing EPC (Engineering, Procurement, and Construction) Market.

Read Our Trending Blogs: 

Top 10 Fruit Juice Brands Worldwide | 2025 Market Trends

Top 10 Companies Dominating the Global MRO Market

Top 5 Companies in the Global Refrigeration Compressor Market | 2025

Top 9 Companies in the Global Tea Market | Rising Demand for Specialty Teas | 2025

Media Contact:

Company Name: Claight Corporation
Contact Person: George buttler, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: http://www.expertmarketresearch.com
Aus Site: https://www.expertmarketresearch.com.au